Daily Newsletter: Monday November 14, 2016

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November 14, 2016

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Compare Mortgage Rates from Local Lenders for Nov 14, 2016

Mortgage Rate Pain on Par With Taper Tantrum

Thu, Nov 10, 2016 6:26PM

Mortgage Rates continued a relentless move higher today, as financial markets continue rapidly adjusting the price of new realities (more on that in a moment). The average 30yr fixed rate quote surged another eighth of a point today (a huge move, relative to the average 24 hours), bringing the 2-day total to 0.25%. That's nearly unheard of in modern economic history. (NOTE: There are several articles floating around today that say rates have only risen 0.03% week-over-week. These are based on Freddie Mac's weekly survey which has not yet captured the volatility of the past 2 days, due to its s... (read more)

Mortgage News Daily	Rate	Change	Points
30 Yr. Fixed	6.15%	-0.02	0.00
15 Yr. Fixed	5.72%	-0.03	0.00
30 Yr. FHA	5.75%	-0.05	0.00
30 Yr. Jumbo	6.33%	-0.02	0.00
7/6 SOFR ARM	5.56%	-0.03	0.00
30 Yr. VA	5.77%	-0.04	0.00
Updates Daily - Last Update: 2/6

Freddie Mac	Rate	Change	Points
30 Yr. Fixed	6.11%	+0.01	0.00
15 Yr. Fixed	5.50%	+0.01	0.00
Updates Weekly - Last Update: 2/5

Mortgage Bankers Assoc.
30 Yr. Fixed	6.24%	+0.08	0.55
15 Yr. Fixed	5.64%	+0.09	0.61
30 Yr. Jumbo	6.34%	-0.05	0.40
Updates Weekly - Last Update: 1/28

MBS Live Day Ahead: Comparing Post-Election Weakness to Taper Tantrum

Mon, Nov 14, 2016 9:27AM

"Taper tantrum" refers to the market's reaction to the revelation that the Fed would begin reducing the pace of its asset purchases in mid-2013. For most of us, that's as bad as it gets for bond markets. Even for those who lived through t... (read more)

MBS Live Recap: Sky Continues Falling For Bond Markets

Thu, Nov 10, 2016 6:19PM

In the Day Ahead, we discussed the concept of ' momentum ' in bond markets. I likened the current momentum situation to an unexpected running of the bulls. The "bull" reference had nothing to do with the market's animal spirit archetypes ... (read more)

MBS	Price	Change
UMBS 4.5	98.06	+0.03
UMBS 5.0	100.05	+0.01
UMBS 5.5	101.49	+0.04
GNMA 4.5	97.84	+0.10
GNMA 5.0	100.18	+0.11
GNMA 5.5	101.22	-0.02
Pricing as of: 2/7 4:53AM EST

US Treasury	Yield	Change
2 YR Treasury	3.496	+0.044
5 YR Treasury	3.753	+0.036
7 YR Treasury	3.965	+0.026
10 YR Treasury	4.213	+0.033
30 YR Treasury	4.851	+0.006
Pricing as of: 2/7 4:53AM EST

Other News

Housing Affordability Slipped even as Rates Slid

Thu, Nov 10, 2016 2:37PM

The affordability tug-of-war between home prices and interest rates continued in the third quarter, but the National Association of Home Builders (NAHB) said this time prices won. Home price appreciation, which continued pretty much unabated in the quarter, offset a small decline in rates and the NAHB/Wells Fargo Housing Opportunity Index (HOI), a measure of... (read more)

Servicing Market Heating Up? Rising Rates to Impact Fed MBS Purchases?

Mon, Nov 14, 2016 10:14AM

Time flies, this week we can expect the FHA Annual Report to be released with folks watching for that 2% capital level, and before you know it Thanksgiving weekend will be here. It is usually around that time when Fannie Mae and Freddie Mac, through the FHFA, or vice versa, come out with the 2017 conforming loan amounts. The smart money is betting on an incr... (read more)

PHH's $28 Million Fine; Miami's Fair Housing Lawsuit; Ocwen News; Trump on Yellen/CFPB

Thu, Nov 10, 2016 10:43AM

The BLS reports 5 of the 10 fastest growing jobs pay less than $25k per year . I wonder what percentage of real estate agents earn that? Realtors have a huge influence of a borrower's lender decision, according to a Freddie Mac survey . The biggest factors are ease of doing business, reputation, and the strength of their relationship with the agent. "Eighty-... (read more)

Latest Video

Rising mortgage rates hit 4%

The Trump effect on housing

Art Cashin on bond vigilantes and deregulation

Around the Web

NAR - Realtor.com

The Mortgage Market Is Changing Fast

Reuters

Exclusive: Audit of U.S. stress test ready, may aid Dodd Frank overhaul fight

CNBC

Former FDIC Chair Bair: Expect different Fed environment under Trump

CNBC

Trump effect pushes mortgage rates to 4%

Calculated Risk Blog

Mortgage Rates and Ten Year Yield, Expect 4% Mortgage Rates

CFPB Monitor

CFPB issues report on servicemember complaints

Calculated Risk Blog

Update: Real Estate Agent Boom and Bust

Reuters

Dow looks set to open at record high

Redfin

Stock Market vs. Real Estate: Which Has Rebounded Better Since the Recession?

CNBC

'Trump Thump' whacks bond market for $1 trillion loss

CNBC

US Treasurys sink as traders eye 'Trumpflation'; 30-year yield breaks above 3%

Market Watch

Market Extra: Bond funds lost $18 billion in value during this week's Trump-inspired selloff

CNBC

'Bond guru' Jeffrey Gundlach says the rate rise is about 80 percent of the way through

Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.

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